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5. FISCAL <br />The Administration's Fiscal Year (FY) runs from July 1 to June 30. The <br />fiscal affairs of the Administration for Compact Year 1989 involve <br />portions of the Administration's FY 1988 -89 and FY 1989 -90. The <br />Treasurer reported on the financial status of the Administration for the <br />applicable portions of those fiscal years at the Annual Meetings held on <br />December 13, 1988 and December 12, 1989. <br />At the December 13, 1988 Annual Meeting the Administration took the <br />following budget actions: <br />• reviewed and left unchanged the previously adopted budget for the <br />remainder of FY 1988 -89 with expenditures of $38,395; <br />• revised the budget for FY 1989 -90 to reflect anticipated expenses <br />of $38,525; <br />• for planning purposes adopted a FY 1990 -91 budget with <br />anticipated expenditures through June 30, 1991 of $35,980. <br />Copies of these budgets are included in this report as Appendix A -1. <br />At the close of the fiscal year on June 30, 1989 the Administration had <br />a cash balance of $46,685 as shown in the FY 1988 -89 Auditor's <br />Report accepted at the December 12, 1989 Annual Meeting. The <br />Auditor's Report is included herein as Appendix A -2. On December 11, <br />1989 the Administration had a cash balance of $53,216 as reported by <br />the Treasurer and shown on Appendix A -3. <br />7 <br />ARCA 1989 <br />